Proper business conduct requirement

Financial market legislation requires senior executive officers of supervised entities to provide assurance of proper business conduct. The purpose of this requirement  is to maintain public confidence in banks and institutions and safeguard the reputation of the financial sector. Assurance of proper business conduct covers matters of personal character and professional qualifications required for the proper management of a supervised entity. The principal criterion used in assessing a person’s suitability is their past and present business activity as well as their professional plans.